Connecticut Lodging Association

3/21/2023

Register Today for MyCTSavings!

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MyCTSavings is a tool for small businesses to provide a retirement savings plan to employees



Nearly half of Connecticut companies do not offer a retirement savings plan for employees. According to AARP, that’s about 600,000 workers who may not be saving for retirement. To fill that gap, the Office of the State Comptroller is offering MyCTSavings, a retirement savings program for employees, with no cost for employers to sign up.   


If you are a business with 5 or more employees and do not offer a qualified retirement savings plan, you must register for MyCTSavings by March 30. If you own a business, here are the basics you need to know: 


Your Role in MyCTSavings:

  • Businesses with 5 or more employees and who do not offer a retirement savings plan, must register for the program. There is no cost for employers to participate. 
  • MyCTSavings was designed to be easy through a simple three-step process:

   1. Employers register through a secure, online portal with a unique access code. 

2. They will then be prompted to upload payroll and employee information in the system.

3. After the employee’s 30 day opt-out period, the employer simply submits their employees’ contributions

each pay cycle and keeps the staff lists up to date. 


This video tutorial will walk you through the registration process.

Fact sheets for employers (in English and Spanish) to share with members. 


Your Employee’s Role

  • When an employer registers, MyCTSavings will set up a Roth IRA for all employees through the payroll process.
  • For employees, the program is optional. Employees can opt-out or change their contribution rate at any time. The Roth IRA is “portable” so if your employee changes jobs, the account goes with them. If your small business already offers a retirement savings plan, you will only need to fill out an exemption waiver https://myctsavings.vestwell.com/register/exempt if contacted by the program.  


For more information, visit Program Details - MyCTSavings or call 1-833-811-7435 to speak with a representative.  

New England Food Show 2023

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The region’s largest restaurant and food service event serving both the foodservice and retail sectors. The latest products, services, and technologies will be showcased along with a leading-edge program of education and demonstrations that provides restaurants, retail, and food service establishments from New England with the best tools to grow and improve their business. 


Registration is now open for the New England Food Show 2023. All CLA members are eligible for a unique promo code to receive free registration. Please contact us at info@ctlodging.org for further details.


April 2-4, 2023

Boston Convention & Exhibition Center | Boston, MA


Register Today!

Paolino Public Affairs Consulting, Inc. Legislative Report - 03/17/23

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Attached is your weekly bill tracking report. It was a relatively quiet week at the capitol complex. Committee's are wrapping up this portion of the committee process, with several of them having their Joint Favorable deadline, which is the deadline in which committees must report favorable on legislation in order for it to be sent to its respective chamber. The Insurance and Real Estate Committee had an eventful meeting on Tuesday in regards to the association healthcare plan bill. Progressive members of the Senate Democratic caucus oppose this measure, as they claim it could potentially alienate certain groups, like minorities and women. After a seven hour meeting, the measure passed and is now ready for action on the floor of the House.

View Report Here

STR: U.S. hotel performance for February 2023

The U.S. hotel industry reported higher performance from the month prior, according to February 2023 data from STR.


February 2023 (percentage change from February 2019):

  • Occupancy: 60.0% (-2.8%)
  • Average daily rate (ADR): US$152.01 (+17.7%)
  • Revenue per available room (RevPAR): US$91.22 (+14.3%)


Among the Top 25 Markets, Tampa experienced the highest occupancy level (82.7%), which was down 2.7% from the market’s 2019 benchmark. 


Markets with the lowest occupancy for the month included Chicago (50.1%) and St. Louis (52.7%). San Francisco reported the steepest decline in occupancy when compared with 2019 (-28.4%). 



Reflecting continued improvement in business travel and groups, the Top 25 Markets showed higher occupancy and ADR than all other markets.


Upcoming AHLA events

  • Nominate all-star general managers before March 31 for AHLA’s GM of the Year and Lifetime Achievement awards. GMs can also self-nominate. Winners will be recognized at AHLA’s GM Summit @ The Hospitality Show June 28 at The Venetian Resort Las Vegas. The event is free for anyone attending The Hospitality Show. Register here.


  • Join us May 15-17 for our premier Capitol Hill fly-in event, Hotels on the Hill. This is your chance to educate legislators in Washington and advance policy priorities on issues that impact your business. Together, we are powerful! Register here


  • The Hospitality Show is a new operations and technology event coming to The Venetian Resort Las Vegas June 27-29. Early bird rates are available until March 31. AHLA members receive an additional $50 off Expo Passes and $100 off All Access Passes. Register here.



Coronavirus (COVID19) in Connecticut

Connecticut Update: as of Mar.20, 2023, 4:00 p.m. portal.ct.gov/coronavirus

Overall Summary Total**; Change Since Yesterday

COVID-19 Cases; 1,064,194; +735

COVID-19 Tests Reported; 16,384,884; +17,289

Daily Test Positivity; 4.25%

COVID-19 Associated Deaths; 12,258; 0


**Includes confirmed plus probable cases

Counties and Towns with Cases of COVID-19



Hotel News

Travel and Tourism Industry Deal Activity Sinks by 60.4% YoY in February 2023, Reveals GlobalData

hotel-online.com


International Visitors Spent $14.7 Billion on Travel to U.S. in January 2023 hotel-online.com


Travel Managers Weigh In on Business Travel’s Outlook for 2023 hotel-online.com


U.S. Corporate Travel Buyers Expect Business Travel to Ramp Up and Return to Pre-pandemic Levels by the End Of 2023 hotelnewsresource.com

Resources

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